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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Cadillac Escala Concept shows off a softer side of American luxury

When Cadillac announced that it would be appearing at Monterey Car Week with a stunning, new concept, the news sent a rush of blood to the head. Would it be a CT6 Coupe? A new V-series model? A follow-up to the show-stopping Elmiraj? Tonight, at the beginning of a weekend of festivities to tantalize automotive enthusiasts and aficionados, Cadillac instead showed off a glimpse of reality: the Escala four-door coupe concept. It wasn't behind a flat-white background, but at a futuristic yet modern home nestled in the hills that Cadillac president Johan De Nysschen introduced the Escala as a "point of inflection" for the brand. Keen observers will note that "Escala" is nearly "Escalade," but any similarity between the two vehicles ends there. De Nysschen noted that the four-door is meant to "relentlessly drive this brand back to its place at the pinnacle of premium." "Nothing less will do," de Nysschen said. The Escala is neither as bold as some recent Cadillacs to take the stage, nor as brash. From a distance, it has a wide, muscular stance wrapped in a tailored suit. Up close, it almost resembles a four-door Camaro — perhaps a nod to the work of former Holden design chief and incoming General Motors director of design, Michael Simcoe. De Nysschen described the Escala project as an "opportunity for designers to flex their creative muscle." The Escala seems to have a footprint mirroring that of a Mercedes-Benz CLS-Class, but it feels wider and smaller at the same time. Is the shape derivative? Perhaps, but the Escala's design is less a reflection of a future, incognito Cadillac, and more of a chance for the brand to show off the details that might soon become icons. The Escala's shape may not be earth-shatteringly different, but the truth is in its details. The mirrors are as thin as designer spectacles. The C-pillar offers an opportunity to show off Cadillac's latest take on the Hoffmeister kink. A glass roof adds visual airiness. And a simple "GM DESIGN" badge sits below the side doors, in deference to the stylists who labored to make the Escala different. The most defining element of the concept is the way it utilizes light. There isn't anything blinding about its lighting, but that means you can focus on the shape and appreciate the ambience. The depth of the LED tail lights adds visual length to the Escala and shows where Cadillac's designers placed the most importance. It's contrast and beauty at once.

Here's what else you could buy for the average new-car price of $40,573

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. The average price of a new car in America hit a new record in December 2020: $40,573. Not that we're surprised — the average has been over $35,000 for the past few years — but seeing that baseline figure crest 40 large is still a sticker-shock to the system. So, as we do every once in a while, we put our collective heads together and came up with a list of alternatives that you could choose to buy for that sum, new or old, classic or practical. Now, let's be crystal clear about one thing here. We're not actually recommending you make this type of decision. That said, we wouldn't blame you if you did. Managing Editor Greg Rasa: $40,000 will buy a fully loaded Camry or moderately equipped crossover. Or, for $39,997, to be exact, one could go motoring in a fine British automobile. This 2006 Aston Martin DB9 Volante in Alabama has 21,452 miles on it, and depreciation has worked its cruel magic: It is listed for less than one-quarter of its $168,000 starting MSRP when it was new. A check of other used DB9s nationwide indicates this is a fair price. This Aston's CarFax reveals two owners. (One, really, as the second was a dealership. Looks like it got traded in for a Porsche.) If you're understandably concerned about reliability, its service history indicates no surprises to date. Remember, it has a 450-horsepower 5.9-liter V12. And spring is coming. Of course a used Aston Martin is riskier than a new Camry. But as Louis Prima sang, "Enjoy yourself, it's later than you think." What price beauty? Less than $40 grand. Associate Editor Byron Hurd: This price point opens up a ton of options in the "nearly new" luxury space, including a few good enthusiast picks, but my nod here goes to the Cadillac ATS-V. The discontinued, M3/M4-rivaling, 465-horsepower sport sedan and coupe can be had all day long in this price range with low miles. In fact, the real challenge is finding one in the spec you want, since it's one of those old-fashioned cars that actually presented the buyer with choices. Here's a clean, six-speed sedan in an actual color for less than our target price, for example. Coupes are more plentiful than sedans, especially in interesting colors, but there are plenty of them out there.